The last year has seen an increase in the number of cryptocurrencies listing on exchanges. However, recently a large proportion of coins have faced delisting the increasing number of failing coins has cause these exchanges to delist them. This is going to happen to Agoras token (ARGS) which runs on the Tau blockchain platform. The coin announced on its website that it will face delisting from Bittrex exchange, causing a massive sell off in the highly day traded token.
Tauchain and Agoras Token
This is not your everyday blockchain platform, it would take a very highly trained computer scientist to understand the concept of the blockchain. I will try explain it though.
First, the platform allows for on-the-fly logical consensus detection which enables it to scale some of the largest bottlenecks to human advancement including social governance and knowledge creation. This is to assist the system obtain and gather users’ data voluntarily and make valuable deductions from the data within a decentralized and secure network. However, the Tau platform needs fuel to power and develop the system and that’s where Agoras comes in.
The system runs on the Agoras token (AGRS) which will serve as the primary coin of transaction within the innovative Tau blockchain network. Agoras token is used as the economy token of the Tauchain blockchain. The coin works on 3 key parts;
- Automated Knowledge Economy
- Computational Resource Market and
- Advanced Currency with Derivatives Features.
Bittrex delists AGRS
Agoras token (AGRS) is currently trading on two exchanges alone, Bittrex and Upbit. With Bittrex currently on a move to delist the coin on March 7th 2018, the coin faces a very tricky period to convince its holders to keep on HODLing. This recent events will have a huge negative impact on the survival of the AGRS token given the already volatile situation it has faced in the last week. For instance, the coin has faced multiple pump-and-dump periods that has pushed the coin to be the most volatile coin in the last 7 days. This has caused many daily traders to exit the coin citing a lack of profit from the coin.
Bittrex has for the past week traded an average daily volume of $4,421,270 worth of AGRS, 48% of the total volume traded which leaves Upbit as the only cryptocurrency exchange dealing in Agoras. The long term goal of the token is held deep down in the beliefs of the creator of Agoras, Ohad Asor.
The Agoras token is a Micro-Cap token currently trading at $1.48 with an average trading volume of $1.74 million within the last 24 hours. The token currently stands at 41.99 million in supply and is ranked at 182 in market capitalization by Coinmarketcap. In 2017 when the crypto market was bullish, AGRS gained significantly increasing its price by over 50% within two months. However, the volatile nature in the crypto market has not been friendly to the token hence it reduced its price from a high of $3.20 in December 2017.
DigitalAssetDB ranks the coin as a highly volatile token recording a high of 67.26% within the last 5 days. Given that the coin is only listed in two coin exchanges, it is difficult to comment on the prospects of the cryptocurrency given its demand might not be enough to push its price up in the future. Agoras token (AGRS) has a standard deviation of 14.82% which ranks it at 248 out of 394 Micro Cap tokens. The token has a liquidity ratio of 16.13% which could be affected by news that the token will be delisted from Bittrex in March 2018.